Another Drug Company Signs On With Gene Logic
Gaithersburg's Gene Logic started life as one of the region's earliest genomics companies, but it has since modified its business to focus mainly on finding alternative uses for drugs that companies have all but given up on.
The company has partnerships with Eli Lilly, Pfizer, Roche, Merck Serono and now Solvay Pharmaceuticals.
Here's an update from the Associated Press:
Pharmaceutical product services company Gene Logic Inc. said Monday (link to press release from home page) it signed an agreement with Solvay Pharmaceuticals to develop alternative uses for Solvay's drug candidates.
Solvay Pharmaceuticals is a division of Netherlands-based Solvay Group.
The drug candidates under the deal have either been discontinued or are not priorities because of reasons other than safety. The deal gives milestone and royalty payments to Gene Logic, thought the exact financial terms of the deal were not disclosed.
Gene Logic could also receive an exclusive license on drug candidates with potential new uses that Solvay chooses not to develop.
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